Underwear. L-Brands transfers control of Victoria’s Secret

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18 March 2020 à 14h34

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2 minutes

Publication: 18 March 2020 à 14h34

Reading time: 2 minutes

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18 March 2020 à 14h34

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Publication: 18 March 2020 à 14h34

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Eager to ease debt pressures, the U.S. underwear retailer Victoria’s Secret has been transferred to Sycamore Partners and delists from the stock market. The investment fund takes 55% of the shares of both Victoria’s Secret and co-brand ‘Pink’, (selling to younger customers) for €472 million. L-Brands (sales of €11.5 billion in 2019, a fall of 2%) retains 45% of the business. Under pressure from shareholders, the Group’s founder Leslie Wexner (aged 82) announced his retirement and considerable s

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